518 Cannon Street E, Hamilton, ON L8L 2E8
Gibson, Hamilton · Near Greenaway Ave · View map
About this home
Welcome to this exceptional opportunity to own a fully tenanted 2.5-storey triplex ideally located on a prominent corner lot in Hamilton's vibrant east end. Perfectly suited for buyers looking to break into the market with the advantage of built-in rental income, this property offers the ideal blend of homeownership and long-term financial flexibility. Whether you are looking to offset your mortgage through house hacking, build equity faster, or expand your real estate portfolio with a cash-flowing asset, this is the type of property that delivers versatility and upside. The home features three self-contained units across a spacious and character-filled layout, along with the added convenience of a side parking pad. Currently generating approximately $51,576 in annual gross income with a projected NOI of roughly $41,688 annually, the property also presents a strong conservative income profile even when accounting for management and maintenance reserves. Situated on Cannon Street East, the location provides excellent access to public transit, major routes, schools, parks, and Tim Hortons Field, while remaining close to everyday amenities and growing neighbourhood conveniences. A rare opportunity to secure an income-generating property with strong fundamentals, mortgage-support potential, and long-term value growth in one of Hamilton's evolving communities.
The home
- Type
- Triplex
- Style
- 2 1/2 Storey
- Square footage
- 2000-2500 sq ft
- Bedrooms
- 5
- Bathrooms
- 3
- Kitchens
- 3
- Rooms
- 12
- Basement
- Full
- Lot size
- 25 x 100 ft
- Faces
- North
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
- Exterior
- Vinyl Siding
Heating & cooling
- Heating fuel
- Gas
- Heating type
- Forced Air
- Air conditioning
- Central Air
- Fireplace
- No
Garage & parking
- Driveway spaces
- 3
- Total parking
- 3
Taxes & other
- Property taxes
- $2,763/yr
- Tax year
- 2025
- Occupancy
- Tenant
- Possession
- Flexible
- Cross street
- Greenaway Ave
- Neighbourhood
- Gibson
More
- Price per sq ft
- ~$244 (at 2,250 sq ft)
- MLS® number
- X13156508
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The home and its surroundings
- Library
- Park
- Place Of Worship
- Public Transit
- Rec./Commun.Centre
- School
- Mortgage
- Property tax
- Maintenance fee
Cash needed to close
Estimates only, using Canadian semi-annual compounding, Ontario land transfer tax. Mortgage default insurance is added when you put down less than 20%. Your lender and lawyer will confirm exact numbers.
518 Cannon Street, Hamilton, ON L8L 2E8
Gibson, Hamilton · Near Greenaway Ave
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Listing history for 518 Cannon Street
See what this home and others at the same address were listed for, what they sold for, and how long it took.
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Frequently asked questions about 518 Cannon Street E
Answers come straight from this home’s MLS® listing.
How much is 518 Cannon Street E listed for, and what would it cost each month?
518 Cannon Street E is listed for $549,000. With 20% down ($109,800), the mortgage payment would be roughly $2,215 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $2,445 a month, all in. That figure is an illustration, not a quote.
Is 518 Cannon Street E freehold or a condo, and is there a monthly fee?
518 Cannon Street E is a triplex in Gibson, Hamilton. Ownership is freehold: you own the home and the lot. There is no monthly condo fee, so the roof, windows, driveway, snow and lawn are yours to look after.
How many bedrooms and bathrooms does 518 Cannon Street E have?
518 Cannon Street E has 5 bedrooms and 3 bathrooms. The listing gives the style as 2 1/2 storey.
Does 518 Cannon Street E have a garage and parking?
The listing does not show a garage. The driveway adds 3 spaces. In total the listing counts 3 parking spaces.
Does 518 Cannon Street E have a finished basement?
The listing describes the basement as full.
What style of home is 518 Cannon Street E?
518 Cannon Street E is a triplex. A multiplex holds two or more separate units under one roof, often bought to live in one unit and rent the others.
How big is 518 Cannon Street E, and what is the lot size?
The listing puts the home between 2,000 and 2,500 sq ft. The board reports a range rather than an exact figure, and it usually leaves out the basement. The lot is listed as 25 x 100 ft.
How is 518 Cannon Street E heated and cooled?
Heating is forced air (gas). Cooling is central air.
What are the property taxes for 518 Cannon Street E?
Property taxes are $2,763 a year (2025), or about $230 a month.
Where is 518 Cannon Street E?
518 Cannon Street E is in the Gibson community of Hamilton. The nearest main intersection is Greenaway Ave. The postal code is L8L 2E8.
Is 518 Cannon Street E still for sale?
Yes. It is an active listing (MLS® X13156508). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 518 Cannon Street E asking?
Similar properties for sale nearby right now include 99 Sanford Avenue N at $597,000 (5 bed), 17 Fairleigh Avenue S at $454,900 (5 bed) and 65 Kinrade Avenue at $650,000 (5 bed). These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 518 Cannon Street sold for?
Recent sales, leases and expired listings for this home and others at the same address are in the Sold history tab, with the price and date of each. It is free for members.
How do I book a showing at 518 Cannon Street E?
Pick a day and time with Book a Tour on this page. Tours are free, with no obligation, in person or by video. You can also call or text 647-931-3923.
Have a different question? Ask about this home and get an answer, usually within the hour.
Similar properties nearby
More properties for sale near Gibson, picked by style, size and price.
Duplex$597,00099 Sanford Avenue N, Hamilton5 bed · 2 bath · GibsonCourtesy of: EXP REALTYView home →
Duplex$454,90017 Fairleigh Avenue S, Hamilton5 bed · 3 bath · GibsonCourtesy of: ROYAL LEPAGE STATE REALTYView home →
Duplex$650,00065 Kinrade Avenue, Hamilton5 bed · 2 bath · GibsonCourtesy of: EXP REALTYView home →Courtesy of: REAL BROKER ONTARIO LTD.
Listing information comes from the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate. It is provided for consumers' personal, non-commercial use. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
*Estimated monthly cost assumes 20% down, a 4.5% rate and a 30-year amortization, plus property tax. For illustration only.